Ahead of the Labor Department's final report on gross domestic product growth, the Dow Jones Industrial Average (INDEXDJX:.DJI) is sitting modestly higher following a mixed finish to Thursday's session. On the equity front, BlackBerry Ltd (NASDAQ:BBRY) shares were initially halted after the struggling smartphone manufacturer reported steep losses for its fiscal third quarter. The company also announced a five-year partnership with controversial electronics manufacturer Foxconn.
"Equity indices took a breather yesterday, consolidating the huge post-Fed gains that followed the Federal Open Market Committee (FOMC) policy decision on Wednesday," noted Schaeffer's Senior Options Strategist Tony Venosa, CMT. "Today is triple-witching expiration, as futures, options on futures, and options on equities for December are set to expire. Continue to watch the 182 level on the SPDR S&P 500 ETF Trust (SPY), as major call open interest resides at this near-the-money strike."
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are nearly 21 points above breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,173,892 call contracts traded on Thursday, compared to 611,810 put contracts. The resultant single-session put/call ratio dropped to 0.52, while the 21-day moving average held steady at 0.56.
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Earnings and Economic Data
Investors can expect the Labor Department's final reading on third-quarter gross domestic product (GDP). BlackBerry Ltd (BBRY), CarMax (KMX), Finish Line (FINL), and Walgreen (WAG) will report earnings.
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